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Organising and running a large scale event isn’t easy. Currently, thousands of sellers around the globe rely on ticketing solutions that haven’t kept up with their needs and expectations.
As the digital ticketing platform is on an upward trend, various startups are working to develop solutions that make the technical aspect of issuing and selling tickets easy.
According to Telecoming’s analysis, the volume of transactions in this market is expected to reach more than $ 66B (approx €54B) in 2023 worldwide. Another report states that the Europe smart ticketing market revenue is expected to reach $ 5.38B by 2023, growing at a CAGR of 20.69% during the forecast period 2017-2023.
Raised €12.6M in Series A funding
Based out of Düsseldorf, Germany, vivenu offers a unified platform to manage, market, and analyse ticket sales. Recently, the German company closed €12.6M in Series A funding, bringing its total funding to €14M.
Who backed vivenu?
The round was led by Balderton Capital, with previous investor Redalpine also doubling down. As a part of the funding round, Daniel Waterhouse, partner at Balderton, will join vivenu’s board of directors.
“We created vivenu to address the need of ticket sellers for a user-centric ticketing platform,” says Simon Hennes, CEO, and co-founder of vivenu. “Event organisers were stuck with solutions that heavily depend on manual processes, causing high costs, dependencies, and frustration on various levels. We refuse to accept the status quo and are building a unified platform to free ticket sellers from tedious workflows and to become the full owner of their ticketing experience and data.”
With this funding, vivenu plans to foster product development, expand into new markets, and accelerate growth to meet customer demand.
Unified platform for ticketing
Founded in 2018, vivenu provides venues and event owners with access to full-featured ticketing through its unified platform. It gives ticket managers full real-time dynamic control over all aspects of selling tickets, including configuring prices and seating plans, leveraging customer data and insights, and mastering a branded look and feel across their sales channels.
Sold 2M tickets since March
Since March, the company has sold over 2 million tickets and is trusted by a large variety of ticket sellers such as leading sports clubs, venues, amusement parks, fairs, and festivals. In March 2020, vivenu secured €1.4M in seed funding. Previous investors include early-stage venture capital investor Redalpine, GE32 Capital, and Hansel LLC.
Main image credits: Vivenue
Vivenu, a ticketing platform that offers an API for venues and promoters to customize to their needs, has closed a $ 15 million (€12.6 million) Series A funding round led by Balderton Capital. Previous investor Redalpine also participated.
Historically speaking, most ticketing platform startups took a direct to consumer approach, or have provided turnkey solutions to big event promoters. But in this day and age, most events require a great deal more flexibility, not least because of the pandemic. So, by offering an API and allowing promoters that flexibility, vivenu managed to gain traction.
Venues and event owners get a full-featured ticketing, out-of-the-box platform with full real-time dynamic control over all aspects of selling tickets, including configuring prices and seating plans, leveraging customer data and insights and mastering a branded look and feel across their sales channels. It has exposed APIs enabling many different custom use cases for large international ticket sellers. Since its seed funding in March, the company says it has sold more than 2 million tickets.
Simon Hennes, CEO and co-founder of vivenu, said in a statement: “We created vivenu to address the need of ticket sellers for a user-centric ticketing platform. Event organizers were stuck with solutions that heavily depend on manual processes, causing high costs, dependencies, and frustration on various levels.”
Daniel Waterhouse, partner at Balderton, said: “Vivenu has built a sophisticated product and set of APIs that gives event organisers full control of their ticketing operations.”
Vivenu is also the first European investment of Aurum Fund LLC, the fund associated with the San Francisco 49ers. Also investing in the round are angels, including Sascha Konietzke (founder at Contentful), Chris Schagen (former CMO at Contentful), Sujay Tyle (founder at Frontier Car Group) and Tiny VC.
In March 2020, vivenu secured €1.4 million in seed funding, bringing its total funding to €14 million. Previous investors include early-stage venture capital investor Redalpine, GE32 Capital and Hansel LLC (associated with the founders of Loft).
Speaking to TechCrunch, Hennes said: “You have to send your seat map to Ticketmaster, and then the account manager comes back to you with a sitemap. This goes back and forth and takes ages. With us you have a seating chart designer basically integrated into the software which you can simply change yourself.”
Intellect, a Singapore-based startup that wants to lower barriers to mental health care in Asia, says it has reached more than one million users just six months after launching. Google also announced today that the startup’s consumer app, also called Intellect, is one of its picks for best personal growth apps of 2020.
The company recently closed an undisclosed seed round led by Insignia Ventures Partners. Angel investors including e-commerce platform Carousell co-founder and chief executive officer Quek Siu Rui; former Sequoia partner Tim Lee; and startup consultancy xto10x’s Southeast Asia CEO J.J. Chai also participated.
In a statement, Insignia Ventures Partners principal Samir Chaibi said, “In Intellect, we see a fast-scaling platform addressing a pain that has become very obvious amidst the COVID-19 pandemic. We believe that pairing clinically-backed protocols with an efficient mobile-first delivery is the key to break down the barriers to access for millions of patients globally.”
Co-founder and chief executive officer Theodoric Chew launched Intellect earlier this year because while there is a growing pool of mental wellness apps in the United States and Europe that have attracted more funding during the COVID-19 pandemic, the space is still very young in Asia. Intellect’s goal is encourage more people to incorporate mental health care into their daily routines by lowering barriers like high costs and social stigma.
Intellect offers two products. One is a consumer app with self-guided programs based on cognitive behavioral therapy techniques that center on issues like anxiety, self-esteem or relationship issues.
The other is a mental health platform for employers to offer as a benefit and includes a recently launched telehealth service called Behavioural Health Coaching that connects users with mental health professionals. The service, which includes one-on-one video sessions and unlimited text messaging, is now a core part of Intellect’s services, Chew told TechCrunch.
Intellect’s enterprise product now reaches 10,000 employees, and its clients include tech companies, regional operations for multinational corporations and hospitals. Most are located in Singapore, Hong Kong, Indonesia and India, and range in size from 100 to more than 3,000 employees.
For many small- to mid-sized employers, Intellect is often the first mental health benefit they have offered. Larger clients may already have EAP (employee assistance programs), but Chew said those are often underutilized, with an average adoption rate of 1% to 2%. On the other hand, he said Intellect’s employee benefit program sees an average adoption rate of 30% in the first month after it is rolled out at a company.
Chew added that the COVID-19 pandemic has prompted more companies to address burnout and other mental health issues.
Intellect’s seed round will be used to expand in Asian markets and to help fund clinical research studies it is currently conducting with universities and organizations in Singapore, Australia and the United Kingdom.